Many nail technicians dream of opening their own beauty business. There are several things to consider when opening a nail salon include licensing, permits, location, financing, and equipment.
Create a Business Plan
First among the things to consider when opening a nail salon is that, as a business owner, you will be responsible for the success of the venture. Opening a new business requires initial and ongoing investments, which can be substantial.
Create a convincing business plan that describes what will make your nail salon unique, and how you plan to make it succeed. Your plan will include a detailed budget with startup costs, estimated operating costs, and estimated revenue, plus a marketing plan. You’ll also need a unique business name for your salon.
Financing
With a solid business plan, you’ll have a good idea of the financial resources you’ll need to get your business started. You could apply for a loan, or you could seek investors who believe in you and are willing to supply start-up funds, expecting that you’ll pay their investment back, or that they will share in your profits when your salon takes off.
Location
Your nail salon won’t succeed if clients don’t want to visit the location you’ve chosen. Even if your loyal clients are willing to travel to your new location, how will you attract new clients? Consider the availability of parking, the proximity of competitors, and the nature of the surrounding community, which should reflect the demographic that makes up your core clientele.
Legal Compliance
Consult an attorney about the legal requirements for your business. It would be disastrous to go through a grand opening, only to get shut down due to non-compliance with licensing, tax, or permitting regulations or failed building and health department inspections.
Whether the nail techs who work in your salon will be employees working on commission or independent contractors renting a nail station or booth from you, there will be legal and tax responsibilities you should know. Ask your attorney to discuss these with you.
Equipment
You’ll need furnishings and professional nail salon supplies for your new business. As a salon owner, you’ll need more than your favorite mani/pedi tools, nail colors and nail art enhancements. You’ll need workstations or tables, sterilization equipment, LED or UV nail lamps, mops, brooms, and other cleaning equipment, towels, and display shelves if you plan to offer retail products like home manicure kits or nail lacquer to your clients for purchase. You’ll also need other furnishings to make your salon as attractive as possible, from chairs to lighting to vases and mirrors.
Sit down and make a comprehensive list of all the equipment you’ll need to serve your clients, make your salon look fantastic, and to keep your salon and everything in it sparkling clean, bright, and inviting.
